New Weekly Article - The Sweet Aromas of Spring || Home By Design Weekly Article

New Weekly Article - The Sweet Aromas of Spring || Home By Design Weekly Article

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Missed Opportunities Are Far More Likely

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If you've been sitting on the sidelines, waiting for mortgage rates to drop back below 4% before making a move, it's time for a reality check. While we all loved the historically low rates of 2020 and 2021, those numbers were driven by extraordinary global circumstances, not typical market trends. And expecting them to return any time soon could lead to missed opportunities that may cost you far more in the long run. During the height of the pandemic, global economic uncertainty prompted aggressive action from the Federal Reserve, which helped drive mortgage rates to record lows. In January 2021, the 30-year fixed rate bottomed out at 2.65%, the lowest in Freddie Mac's recorded history, which dates back to 1971. But that wasn't a normal market. It was a response to an emergency. Looking at the big picture, the average 30-year mortgage rate over the last 60+ years has hovered around 7.74%. Even today's rates, currently in the mid 6% range, are below that ...
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Each year, homeowners receive a notification of their property tax assessment, which, when combined with the local tax rate, determines how much they owe in property taxes. While this process is meant to fairly reflect a home's value, assessments are not always accurate. If the valuation is incorrect, homeowners may end up paying more than they should. Fortunately, you have the right to challenge the assessment if you believe it is inaccurate. Here are some of the most common reasons a property tax assessment may be incorrect: Overvaluation - Assessors estimate your home's market value, but if they overvalue it, your taxes will be higher than necessary. This can happen if they rely on outdated or incomplete data or if home values in your area have declined since the last assessment. Errors in Property Information - Mistakes in the assessor's records can lead to an inflated value. Common errors include incorrect square footage, an inaccurate number of bedroom...
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